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DUBAI: KBW Ventures, the company founded by Prince Khaled bin Alwaleed bin Talal Al-Saud, has increased its investment in a Singapore-based biotech company aiming to produce lab-grown dairy products. TurtleTree Labs raised $6.2 million as part of its latest round of funding. Besides KBW Ventures, other investors included Green Monday Ventures, Eat Beyond Global, and Verso Capital. Founded in 2019, TurtleTree Labs, which has offices in San Francisco and Singapore, will use the funds to accelerate research and production of functional, bioactive proteins and complex sugars found in human milk. The company hopes these will have potential benefits in gut and brain health, which can be applied to both infant and senior nutrition and offer a viable alternative to animal-based dairy products. ....
TurtleTree Labs raises US$6.2 million in Pre-A funding round Investment from Green Monday Ventures, Eat Beyond Global, KBW Ventures, and Verso Capital will allow TurtleTree Labs to expand focus into functional components in milk TurtleTree Labs builds on early successes of winning highly competitive startup competitions in 2020: The Liveability Challenge presented by Temasek Foundation and the Entrepreneurship World Cup Existing TurtleTree Labs investor Prince Khaled bin Alwaleed bin Talal Al Saud to join as Advisor SAN FRANCISCO, Dec. 17, 2020 /PRNewswire/ TurtleTree Labs, the biotech company pioneering the method to produce milk using cell-based technology, has just announced the close of an oversubscribed $6.2 million Pre-A funding round from new and existing global investors including Green Monday Ventures, Eat Beyond Global, KBW Ventures, and Verso Capital. ....
“The vision of TurtleTree Labs is to create a truly sustainable and cruelty-free food system,” said Max Rye, co-founder and chief strategist of TurtleTree Labs. “We are grateful to have the support of leading investors from every corner of the world.” It won the Entrepreneurship World Cup 2020, the world’s biggest start-up pitch competition in Saudi Arabia, and secured a cash prize of $500,000 in October. The EWC received entries from more than 175,000 start-ups from nearly 200 countries. The company also announced that Prince Khaled will join TurtleTree Labs as an adviser. Other venture capital investors who participated in the pre-A funding round include Green Monday Ventures, Eat Beyond Global and Verso Capital. ....
KBW Ventures invests in TurtleTree Labsâ $6.2 million pre-Series A Prince Khaled bin Alwaleed bin Talal Al Saud, CEO of KBW Ventures UAE-based KBW Ventures, has participated in the $6.2 million pre-Series A funding round for Singapore-based TurtleTree Labs, a biotechnology company that uses technology to create real milk from animal cells. Other investors participating in this round include Green Monday Ventures, Eat Beyond Global and Verso Capital. TurtleTree Labs is the world s first milk company using cell cultivation to create the full nutritional content of milk using just mammary cells, with no animal needed. The end product is the same as human breast milk and cow milk and will be sold as a food product. ....